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Oregon Producer's Examination for Casualty Insurance — Information & Free Practice

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Oregon Producer's Examination for Casualty Insurance

Provider
PSI Services LLC
Format
Computer-based examination at a test center or remotely proctored
Exam questions
100 scored questions; the bulletin permits additional unscored experimental items
Time limit
Two-hour time limit
Passing score
70% correct
Exam fee
$45
Examination outline
  • Insurance Regulation (13%)
    • Licensing
    • Licensing / Purpose
    • Licensing / Process (ORS 744.058, .059, .062)
    • Licensing / Types of licensees
    • Licensing / Types of licensees / Producers (ORS 744.052, .053, 731.104)
    • Licensing / Types of licensees / Consultants (ORS 744.605, .609, .626; OAR 836-071-0150)
    • Licensing / Types of licensees / Adjusters (ORS 744.531)
    • Licensing / Types of licensees / Nonresidents (ORS 744.063)
    • Licensing / Types of licensees / Temporary (ORS 744.073)
    • Licensing / Maintenance and duration
    • Licensing / Maintenance and duration / Renewal and nonrenewal (ORS 744.072, .074) OAR 836-071-0146)
    • Licensing / Maintenance and duration / Continuing education requirements (ORS 744.072; OAR 836-071-0215 to 0250)
    • Licensing / Maintenance and duration / Reinstatement (ORS 744.018, .072(6))
    • Licensing / Maintenance and duration / Assumed business name (ORS 744.028(2),.068)
    • Licensing / Maintenance and duration / Change of address or telephone number (ORS 744.028(1), .068)
    • Licensing / Maintenance and duration / Reporting of actions (ORS 744.089)
    • Licensing / Disciplinary actions
    • Licensing / Disciplinary actions / Cease and desist orders (ORS 731.252)
    • Licensing / Disciplinary actions / License probation, suspension, revocation or refusal to issue or renew (ORS 744.074)
    • Licensing / Disciplinary actions / Civil penalty (ORS 731.988)
    • Licensing / Disciplinary actions / Criminal penalty (ORS 731.992)
    • State regulation
    • State regulation / Director's enforcement authority (ORS 731.256)
    • State regulation / Director's enforcement authority (ORS 731.256) / Director's inquiries (ORS 731.296)
    • State regulation / Company regulation
    • State regulation / Company regulation / Producer appointment (ORS 744.078)
    • State regulation / Company regulation / Termination of appointment (ORS 744.079, .081)
    • State regulation / Company regulation / Unfair claim settlement practices (ORS 746.230; OAR 836-080-0205 to 0250)
    • State regulation / Producer regulation
    • State regulation / Producer regulation / Fiduciary and trust account responsibilities (ORS 744.083; OAR 836-074-0020 to 0050)
    • State regulation / Producer regulation / Place of business/records maintenance (ORS 744.068)
    • State regulation / Producer regulation / Controlled business (ORS 746.065, .160)
    • State regulation / Producer regulation / Controlled business (ORS 746.065, .160) / Commissions (ORS 744.076, .077; OAR 836-071-0269–0277)
    • State regulation / Producer regulation / Fees (ORS 744.076, .077; OAR 836-071-0260 to 0277)
    • State regulation / Unfair trade practices
    • State regulation / Unfair trade practices / Misrepresentation (ORS 746.075, .100)
    • State regulation / Unfair trade practices / False advertising (ORS 746.110; OAR 836-080-0155)
    • State regulation / Unfair trade practices / Rebating (ORS 746.045)
    • State regulation / Unfair trade practices / Unfair discrimination (ORS 746.015; OAR 836-081-0005, 0010, 0020, 0030)
    • State regulation / Unfair trade practices / Illegal inducement (ORS 746.035)
    • State regulation / Examination of records (ORS 744.068(2, 3))
    • State regulation / Privacy of Consumer Information (ORS 746.600, .620, .630, .665; OAR 836-080-0501 to 836-080-0551)
  • Federal Laws and Regulations (4%)
    • Fair Credit Reporting Act
    • 18 United States Code (USC) Sections 1033 and 1034 - purpose
  • General Insurance Concepts (20%)
    • Risk
    • Risk / Definitions (e.g., risk, hazard, peril, loss)
    • Risk / Methods of handling risk (e.g., avoidance, retention, sharing, reduction, transfer)
    • Risk / Elements of insurable risks
    • Classifications of insurers
    • Classifications of insurers / Mutual, stock
    • Classifications of insurers / Admitted, non-Admitted
    • Classifications of insurers / Foreign, domestic, alien
    • Authority and powers of producers - definitions
    • Authority and powers of producers - definitions / Express
    • Authority and powers of producers - definitions / Implied
    • Authority and powers of producers - definitions / Apparent
    • Authority and powers of producers - definitions / The Law of Agency
    • Elements of a contract
    • Elements of a contract / Offer
    • Elements of a contract / Acceptance
    • Elements of a contract / Consideration
    • Elements of a contract / Competent parties
    • Elements of a contract / Legal purpose
    • Legal interpretations affecting contracts
    • Legal interpretations affecting contracts / Reasonable expectations
    • Legal interpretations affecting contracts / Indemnity
    • Legal interpretations affecting contracts / Good faith
    • Legal interpretations affecting contracts / Warranties, representations, misrepresentations, and concealment
    • Legal interpretations affecting contracts / Fraud
  • Insurance Basics (17%)
    • Underwriting (purpose, process, results)
    • Types of hazards
    • Types of hazards / Physical
    • Types of hazards / Moral
    • Types of hazards / Morale
    • Negligence
    • Negligence / Torts
    • Negligence / Elements of a negligent act
    • Negligence / Defenses against negligence
    • Damages
    • Damages / Compensatory versus punitive
    • Damages / General versus special
    • Liability
    • Liability / Absolute
    • Liability / Strict
    • Liability / Vicarious
    • Accident versus occurrence
    • Policy structure
    • Policy structure / Declarations
    • Policy structure / Definitions
    • Policy structure / Insuring agreement
    • Policy structure / Additional/supplementary coverage
    • Policy structure / Conditions
    • Policy structure / Exclusions
    • Policy structure / Endorsements
    • Policy clauses
    • Policy clauses / Insureds
    • Policy clauses / Policy period
    • Policy clauses / Policy territory
    • Policy clauses / Cancellation and non-renewal
    • Policy clauses / Deductibles/self-insured retention
    • Policy clauses / Other insurance
    • Policy clauses / Other insurance / Nonconcurrency
    • Policy clauses / Other insurance / Primary and excess
    • Policy clauses / Other insurance / Pro rata
    • Policy clauses / Other insurance / Contribution by equal shares
    • Limits of liability
    • Limits of liability / Per accident
    • Limits of liability / Per occurrence
    • Limits of liability / Per person
    • Limits of liability / Aggregate
    • Limits of liability / Split limits
    • Limits of liability / Combined single limit
    • Named insured provisions
    • Named insured provisions / First named insured versus other insureds
    • Named insured provisions / Duties after loss
    • Named insured provisions / Assignment
    • Named insured provisions / Waiver of rights
    • Insurer provisions
    • Insurer provisions / Liberalization
    • Insurer provisions / Subrogation
    • Insurer provisions / Claim settlement options
    • Insurer provisions / Duty to defend
    • Insurer provisions / Arbitration
    • Oregon laws, regulations and required provisions
    • Oregon laws, regulations and required provisions / Oregon Insurance Guaranty Association (ORS 734.510–.710)
    • Oregon laws, regulations and required provisions / Cancellation and nonrenewal
    • Oregon laws, regulations and required provisions / Cancellation and nonrenewal / Commercial liability (ORS 742.700–.710)
    • Oregon laws, regulations and required provisions / Cancellation and nonrenewal / Property (ORS 742.224, 746.686-687)
    • Oregon laws, regulations and required provisions / Cancellation and nonrenewal / Automobile (ORS 742.560-.572)
    • Oregon laws, regulations and required provisions / Binders (ORS 742.043)
    • Oregon laws, regulations and required provisions / Rates (ORS 737.025, .310; OAR 836-010-0011)
    • Oregon laws, regulations and required provisions / Policy forms (ORS 742.003, .005)
    • Oregon laws, regulations and required provisions / Suit against insurer (ORS 742.240)
    • Oregon laws, regulations and required provisions / Concealment, misrepresentation or fraud (ORS 742.013, .208, .562(1)(b), .702(1)(b); 746.075, .100, .110)
    • Oregon laws, regulations and required provisions / Unfair discrimination (ORS 746.015,.018, .240)
    • Oregon laws, regulations and required provisions / Federal Terrorism Insurance Program (15 USC 6701; Public Law 109–144, 110–160)
  • Personal Automobile Policy (15%)
    • Laws
    • Laws / Oregon Motor Vehicle Financial Responsibility Law
    • Laws / Required motor vehicle limits of liability (ORS 806.070, .075)
    • Laws / Required motor vehicle limits of liability (ORS 806.070, .075) / Other ways to prove responsibility (ORS 806.011, .060, .080)
    • Personal injury protection definitions (ORS 742.518–.544)
    • Personal injury protection definitions (ORS 742.518–.544) / Medical
    • Personal injury protection definitions (ORS 742.518–.544) / Loss of income
    • Personal injury protection definitions (ORS 742.518–.544) / Funeral
    • Personal injury protection definitions (ORS 742.518–.544) / Essential services
    • Personal injury protection definitions (ORS 742.518–.544) / Exclusions from coverage
    • Personal injury protection definitions (ORS 742.518–.544) / Arbitration
    • Personal injury protection definitions (ORS 742.518–.544) / Day Care
    • Uninsured and underinsured motorist coverage (ORS 742.500–.510)
    • Uninsured and underinsured motorist coverage (ORS 742.500–.510) / Definitions
    • Uninsured and underinsured motorist coverage (ORS 742.500–.510) / Bodily injury
    • Uninsured and underinsured motorist coverage (ORS 742.500–.510) / UM and UIM rejection
    • Uninsured and underinsured motorist coverage (ORS 742.500–.510) / Aftermarket Crash Parts Act (ORS 746.287, .289, .292)
    • Uninsured and underinsured motorist coverage (ORS 742.500–.510) / Credit History (ORS 746.661)
    • Uninsured and underinsured motorist coverage (ORS 742.500–.510) / Total Loss (ORS 742.554, 801.527, 819.014), (OAR 836.080.0240)
    • Definitions
    • Liability coverage
    • Liability coverage / Bodily injury and property damage
    • Liability coverage / Supplementary payments
    • Liability coverage / Exclusions
    • Liability coverage / Liability extension to towed vehicle
    • Medical payments coverage
    • Coverage for damage to your automobile
    • Coverage for damage to your automobile / Collision
    • Coverage for damage to your automobile / Other than collision (comprehensive)
    • Coverage for damage to your automobile / Deductibles
    • Coverage for damage to your automobile / Exclusions
    • Duties after an accident or loss
    • General provisions
    • Endorsements
    • Endorsements / Amendment of policy provisions — Oregon
    • Endorsements / Towing and labor costs
    • Endorsements / Extended non-owned coverage — vehicles furnished or available for regular use
    • Endorsements / Joint ownership coverage
    • Endorsements / Rental vehicle coverage
  • Commercial Automobile Policy (7%)
    • Commercial auto coverage forms
    • Covered automobiles
    • Covered automobiles / Hired automobiles
    • Covered automobiles / Non-owned automobiles
    • Liability
    • Physical damage
    • Exclusions
    • Conditions
    • Definitions
    • Selected endorsements
    • Selected endorsements / Lessor — additional insured and loss payee
    • Selected endorsements / Mobile equipment
    • Selected endorsements / Broad form products
    • Selected endorsements / Employees as insureds
  • Commercial General Liability (12%)
    • Commercial policy components
    • Commercial policy components / Declarations
    • Commercial policy components / Conditions
    • Commercial policy components / Interline endorsements
    • Commercial general liability coverages
    • Commercial general liability coverages / Bodily injury and property damage
    • Commercial general liability coverages / Personal and advertising injury
    • Commercial general liability coverages / Medical payments
    • Commercial general liability coverages / Conditions
    • Commercial general liability coverages / Definitions
    • Commercial general liability coverages / Exclusions
    • Occurrence versus claims-made
    • Occurrence versus claims-made / Trigger
    • Occurrence versus claims-made / Retroactive date
    • Commercial general liability exposures
    • Commercial general liability exposures / Premises and operations
    • Commercial general liability exposures / Products and completed operations
    • Commercial general liability exposures / Contractual liability
  • Workers' Compensation Laws (5%)
    • Oregon Workers' Compensation Law (ORS Chapter 656)
    • Oregon Workers' Compensation Law (ORS Chapter 656) / Exclusive remedy (ORS 656.018)
    • Oregon Workers' Compensation Law (ORS Chapter 656) / Employment covered (required, voluntary, leased) (ORS 656.017, .023, .027–.041)
    • Oregon Workers' Compensation Law (ORS Chapter 656) / Covered injuries and notice (ORS 656.005(7); .265)
    • Oregon Workers' Compensation Law (ORS Chapter 656) / Occupational disease (ORS 656.802–.804)
    • Oregon Workers' Compensation Law (ORS Chapter 656) / Benefits provided (ORS 656.202, .204, .206, .208, .210, .211, .212, .214, .216, .245, .258, .262(4)(a))
    • Oregon Workers' Compensation Law (ORS Chapter 656) / Workers' Compensation Handicapped Workers Program (ORS 656.628)
    • Workers' compensation coverages and benefits
    • Workers' compensation definitions
    • Workers' compensation definitions / Occupational accident versus occupational disease and illness
    • Workers' compensation definitions / Levels of disability
    • Rating and job classification
    • Other sources of coverage
    • Other sources of coverage / Oregon Workers' Compensation Fund Insurance Plan (ORS 656.730; OAR 836-043-0001–0091)
    • Other sources of coverage / Self-insured employers and employer groups (ORS 656.403, .407)
    • Federal laws
  • Other Types of Casualty Insurance (7%)
    • Personal umbrella, commercial umbrella, and excess policies
    • Personal umbrella, commercial umbrella, and excess policies / Underlying limits
    • Personal umbrella, commercial umbrella, and excess policies / Self-insured retention
    • Specialty liability insurance
    • Specialty liability insurance / Professional errors and omissions
    • Specialty liability insurance / Directors and officers
    • Specialty liability insurance / Employment practices
    • Specialty liability insurance / Employee benefits
    • Specialty liability insurance / Cyber liability and network protection
    • Surplus lines (ORS Sec. 735.410, .415)
    • Surplus lines (ORS Sec. 735.410, .415) / Definitions and markets
    • Surplus lines (ORS Sec. 735.410, .415) / Licensing requirements
    • Surety Contracts
    • Surety Contracts / Differences between surety and insurance
    • Surety Contracts / Obligation of the surety
    • Surety Contracts / Parties to the surety bond
    • Surety Contracts / Parties to the surety bond / Principal
    • Surety Contracts / Parties to the surety bond / Obligee
    • Surety Contracts / Parties to the surety bond / Surety Contracts
Examination sources